Trust and Loan Companies Act
Marginal note:Minimum number of directors
163 (1) A company shall have at least seven directors.
Marginal note:Residency requirement
(2) At least one half of the directors of a company that is a subsidiary of a foreign institution or of a prescribed holding body corporate of a foreign institution and at least two thirds of the directors of any other company must be, at the time of each director’s election or appointment, resident Canadians.
- 1991, c. 45, s. 163
- 2001, c. 9, s. 498
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